8 months ago

Chinese regulators have warned investors about the inadmissibility of illegal fundraising and trading activity associated with blocking and cryptocurrencies.

A special emphasis in the document is made on cryptocurrency projects, which carry out operations under foreign IP-addresses and attract Chinese investors. Also a lot of attention is paid to mobile payment platforms, which can be used for cryptocurrency trading.

The regulators also urged the public to refrain from participating in “new fundraising campaigns”, such as initial coins offering (ICO) and the so-called “Initial Fork Offering” (IFO). According to the authorities, all these methods are used for speculations with cryptocurrencies.

Earlier, Chinese financial managers announced their intention to blockchain access to 124 foreign crypto-exchange sites providing services to local residents. It also became known recently that the Internet giant Alibaba is actively cooperating with the Chinese authorities on these issues.